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Wed August 28, 2013
NM Gets $1.2 Million For Carbon Dioxide Production
The State Land Office says it's received $1.2 million in royalties from a company for carbon dioxide production in northeastern New Mexico.
Land Commissioner Ray Powell said the payment from the Hess Corp. covers production since 2010 on state trust land in Harding County in a carbon dioxide gas field known as the West Bravo Dome.
Powell said the carbon dioxide is sent by pipeline to West Texas where it's injected in oil reservoirs to help increase production.
Public schools, universities and state hospitals benefit from revenues collected on oil and gas production on state trust lands.
The Land Office received about $487 million in royalties from oil and gas production in the last budget year.
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